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is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico, canada, probably less so in europe and japan. but there will be a ripple effects. >> are you worried about it? >> yes. of course i worry about it. the u.s. is a big chunk of the global economy. it has often been a driver of growth. and to have that player virtually flat, if not in recession, would be bad news for the rest of the world. we do not need that because recovery is fragile. we do not want to have this knock on affect on the fragile recovery. >> what would your message be to members of both parties on capitol hill as their negotiating? >> i would say focus on the real issue. the real issues for me are the supremacy of the united states and its leadership role in the world. the u.s. has an economic leadership in the world. it is a safe haven. to make sure --
is 20% of the global economy. if the u.s. suffers as a result of a fiscal cliff, a complete wiping out of its growth is going to have repercussions around the world. probably half of that. if the u.s. economy has less growth, it will probably be 1% less in mexico, canada, probably less so in europe and japan. but there will be a ripple effects. >> are you worried about it? >> yes. of course i worry about it. the u.s. is a big chunk of the global economy. it has often been a driver...
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Dec 5, 2012
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there's a lot at stake in america and international economies as well. can you reassure them that you will come to some sort of a deal? >> i think that we will. we're in the early stages of the serious negotiations and that president -- the president has put forth an offer and speaker john boehner has put forth that offer. the fact that this is rejected is to be expected but it is testing ground. we have seen that between them have gone through this process. i believe we will get there. both sides so that we cannot win are refusing to compromise. we both have our right to be here and we have countered with some revenue in places. we want to see what the president will do in terms of cuts. where are concerned about the deficit. i believe we will get there. i really do. >> you are a perennial optimist. you make everything seem sunny. we are at a stalemate. republicans do not want to raise taxes and democrats to know what to -- do not want to cut spending. >> the president has the political upper hand. if nothing happens, the tax rates do expire as is and t
there's a lot at stake in america and international economies as well. can you reassure them that you will come to some sort of a deal? >> i think that we will. we're in the early stages of the serious negotiations and that president -- the president has put forth an offer and speaker john boehner has put forth that offer. the fact that this is rejected is to be expected but it is testing ground. we have seen that between them have gone through this process. i believe we will get there....
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Dec 6, 2012
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economy, he had to read mcvet is taking much longer than in must got to balance -- he had to admit it is taking much habrÉ than it osborn when o address was first thought to balance the nation's books. >> the people want to know that we are making progress, and the message today is that we are making progress. it is a hard road, but we are getting there. >> he pointed to the economic problems globally that are making his job harder. as a result, the chancellor announced austerity would have to last for logger, until 2018, in fact. that means more benefits will now be squeezed, and there will be a tax rates on the pension pops. >> i know these tax measures willthought to balance not be r. ways to reduce the deficit never are. but we must act together. when you look for savings, it is fair to local to the 1%. >> with multiple forecasts being downgraded, it has now become an issue about competence. they argue not only has the chancellor failed, but failed on his own terms. >> it has been completely derailed. the one test they set for themselves, balance the books and get the debt fallin
economy, he had to read mcvet is taking much longer than in must got to balance -- he had to admit it is taking much habrÉ than it osborn when o address was first thought to balance the nation's books. >> the people want to know that we are making progress, and the message today is that we are making progress. it is a hard road, but we are getting there. >> he pointed to the economic problems globally that are making his job harder. as a result, the chancellor announced austerity...
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Dec 10, 2012
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we have been going through a difficult time in our economy. that holds me back from saying this would never happen again. the other thing that holds the back is, i do not think it was expected to have been 20 years ago. people were caught flatfooted. police department, media -- everybody was surprised. if it surprised us then, we have to be careful we do not let it happen again. tavis: big city politics in this country national news. it can be new york, chicago, l.a. has the political scene changed dramatically in 20 years? >> i think so. i like to write about the politics of the police department. the department has always had an idea or knowledge that their image is out there. there was a time, 20 years ago, when they did not care what the image was, and now they do. the idea of politics, what we are presenting to the world, is in this book and other books i have written. as far as the big picture of politics, i can't act like i am any expert on it, but politics our politics. tavis: let me get personal with you. i mentioned that this is your
we have been going through a difficult time in our economy. that holds me back from saying this would never happen again. the other thing that holds the back is, i do not think it was expected to have been 20 years ago. people were caught flatfooted. police department, media -- everybody was surprised. if it surprised us then, we have to be careful we do not let it happen again. tavis: big city politics in this country national news. it can be new york, chicago, l.a. has the political scene...
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Dec 8, 2012
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won people drop out of the labor force they slow the economy. their productivity is gone, their contributions are no longer there, so this is a different situation we're facing today than we faced i really think since the end of the world war ii. >> brown: before the implication of the fiscal cliff, explain it because different states have different impact. >> under normal economic times this say program that is governed by state law and administered by the state. and states pay up to 26 weeks of benefits, six months for people who lost jobs through no fault of their own. but if bad economic times historically congress has authorized additional levels of benefits. this time it is a program called the emergency unemployment compensation system. and there are four different tiers depending on how bad your state unemployment rate is every state gets 14 weeks. nine states get up to 47 a decisional weeks. and the rest are in betweenment but you have to be over 9% to get that additional 47 weeks. >> brown: so it is this program that is now caught up i
won people drop out of the labor force they slow the economy. their productivity is gone, their contributions are no longer there, so this is a different situation we're facing today than we faced i really think since the end of the world war ii. >> brown: before the implication of the fiscal cliff, explain it because different states have different impact. >> under normal economic times this say program that is governed by state law and administered by the state. and states pay up...
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Dec 6, 2012
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and an average $2.3 billion a year. >> it is the lifeblood of our economy in the keys. we get millions of visitors a year who spend millions of hours out on the ocean diving and fishing on our coral reefs. >> sreenivasan: amy slates dive resort depends on coral, and the divers who come to see them >> because we deal so much with nature and with diving its it's probably life or death for my business, i hate to say it, but if the coral reefs thrive and grow, the more wildlife you have and the nicer it will be for everyone. and the more the divers will want to come here. >> sreenivasan: divers like the volunteers helping ken nedimyer rebuild reefs. >> i think our effort is, you know, it's certainly not the answer. it's a part of the solution, it's doing something, it's buying us time. >> sreenivasan: time may be is running out for coral reefs in florida and elsewhere. >> woodruff: hari's next story is about the impact warmer and more acidic waters have on shellfish. you can preview that and previous reports on our "coping with climate change" page on our website. >> ifill:
and an average $2.3 billion a year. >> it is the lifeblood of our economy in the keys. we get millions of visitors a year who spend millions of hours out on the ocean diving and fishing on our coral reefs. >> sreenivasan: amy slates dive resort depends on coral, and the divers who come to see them >> because we deal so much with nature and with diving its it's probably life or death for my business, i hate to say it, but if the coral reefs thrive and grow, the more wildlife...
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Dec 4, 2012
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major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: house republicans today offered their counter- offer to the president's plan for a deal both sides say is needed to avoid year-end tax increases. the move was the latest volley in an increasingly tense face- off between the two branches of government. >> with 28 days left to come to a deal on the nation's fiscal cliff, the white house is holding firm on its proposal to raise taxes on the wealthy. spokesman jay carney. >> the obstacle remains at this point the refusal to acknowledge by republican leaders that there is no deal that achieves the kind of balance that is necessa
major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you....
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or help the economy in any other state and would specifically in michigan. starting with you, congressman. >> they clearly depress wages. look, we can compete in michigan. we don't have to compete with the lowest common detom naturor. we're doing much better. we're doing much better because people have a voice in the workplace. what the state senator is doing in essence is to snuff out the voice in the workplace to destroy collective bargaining that made the middle class of michigan and this country. that's what this is really all about. >> ifill: state senator prose, you mentioned indiana repeatedly. give me a specific example of how indiana's economy has been improved. >> you bet. i think there are two very specific examples that we can point to. first off on more of a global perspective we have 12.5% increase according to the bureau of labor statistics, a reputable organization that we all point to, to determine our specific statistics t12.5% increase both in wages as well as in jobs. we've only seen a 3.1% increase in those states that are not right to w
or help the economy in any other state and would specifically in michigan. starting with you, congressman. >> they clearly depress wages. look, we can compete in michigan. we don't have to compete with the lowest common detom naturor. we're doing much better. we're doing much better because people have a voice in the workplace. what the state senator is doing in essence is to snuff out the voice in the workplace to destroy collective bargaining that made the middle class of michigan and...
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Dec 4, 2012
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if you don't give us what we want, we'll tank the economy. nice little economy you've got here. shame if shg were to happen to it. this needs to be taken off the table. >> ifill: let's assume we do go over the cliff as you suspect, where do we we land? where is the balance both sides are looking for? >> well, i mean in a way you could say a balanced outcome is that most of the bush tax cuts will survive. the fact of the matter is just a small piece of them is going to be taken away. there's a lot of things that the democrats want: extension of the payroll tax, expansion of unemployment been tits, more stimulus in general. that probably won't happen if we go over the cliff. it's not as if we're talking about a situation in which president obama gets everything he wants. i'm not sure. what we want is the least bad outcome for the u.s. economy. and the u.s. long-term fiscal outlook that we can get. i don't think that balance is what we're seeking. what we're seeking is is let's try not to mess up this situation even more than it already is mess up. >> ifill: do you agree with erski
if you don't give us what we want, we'll tank the economy. nice little economy you've got here. shame if shg were to happen to it. this needs to be taken off the table. >> ifill: let's assume we do go over the cliff as you suspect, where do we we land? where is the balance both sides are looking for? >> well, i mean in a way you could say a balanced outcome is that most of the bush tax cuts will survive. the fact of the matter is just a small piece of them is going to be taken away....
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Dec 7, 2012
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nearly 45% of the city's economy is tied to defense spending. and in response to sea level rise, the navy has been replacing 14 piers at a cost of $35 million to $40 million apiece. >> sea level here is coming up for lots of reasons. there is no reason for it to go down. it just keeps coming up. >> reporter: larry atkinson heads the climate change and sea level rise institute at old dominion university. >> there is anecdotal evidence and there is real evidence that we have from the tide gauges we have. we can measure this. the science is simple. >> reporter: atkinson is part of a team of scientists the state of virginia has hired to study flooding. an early draft of the bill in the state assembly that funded the study drew criticism from some conservatives. the virginia tea party described the study on its website as: "more wasted tax dollars for more ridiculous studies designed to separate us from our money and control all land and water use." the final bill avoided the phrases sea level rise and climate change and won overwhelming bipartisan s
nearly 45% of the city's economy is tied to defense spending. and in response to sea level rise, the navy has been replacing 14 piers at a cost of $35 million to $40 million apiece. >> sea level here is coming up for lots of reasons. there is no reason for it to go down. it just keeps coming up. >> reporter: larry atkinson heads the climate change and sea level rise institute at old dominion university. >> there is anecdotal evidence and there is real evidence that we have...
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Dec 5, 2012
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. >> the reason why we called jon is because we knew he knew about the economy. >> narrator: by 2008, corzine had become a trusted advisor to barack obama. it was once rumored that he might even replace tim geithner as treasury secretary. >> here we go, folks. >> narrator: but then in 2010, new jersey voters ended his political career and returned him to wall street. >> former new jersey governor jon corzine is returning to the private sector. he has taken the helm of mf global. >> narrator: but corzine's choice of mf global was puzzling. >> i think it was a little surprising that he went to such a small firm. you know, if you think about it, goldman partner, goldman ceo, confidante of the president of the united states, former new jersey governor, senator. why wasn't he running a bigger firm, i guess, is the real question. >> 99% of people would look at his résumé and say, "i was a senior partner at goldman sachs, i was the governor of new jersey, i'm past 60, over and out, i'm going to go have fun." but he looks at his résumé and says, "i was kicked out of goldman sachs. i was k
. >> the reason why we called jon is because we knew he knew about the economy. >> narrator: by 2008, corzine had become a trusted advisor to barack obama. it was once rumored that he might even replace tim geithner as treasury secretary. >> here we go, folks. >> narrator: but then in 2010, new jersey voters ended his political career and returned him to wall street. >> former new jersey governor jon corzine is returning to the private sector. he has taken the helm...
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Dec 7, 2012
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $579 a month at your local mercedes-benz dealer. [ male announcer ] lease a 2013 e350 for $579 a month try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >> liberals have turned a blind eye to extremists operate. we saw it all ye
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through...
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Dec 7, 2012
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he's head of the parade and a a badly weakened economy is going to hurt him more than anything. the republicans need to figure out their hand is stronger than they think, and they need to remember they are the ones that control spending and under no circumstances should they ever give obama a blank check or give up their constitutional authority. now four, republicans, and in particular, john boehner, a party that gets trapped, you always suffer and they suffer in particular if they lose the battle over the narrative. that's what's happening to republicans since all the focus is on tacks tacks and not spend. republicans need to take steps like passing real legislation that allows them to talk about their agenda, not what obama needs to talk about, and they have to figure out creative ways to make their case to the american people. it's time that republicans have the courage of their convictions. it is simply immoral to continue to steal from future generations with out of control deficits and now record debt. now going over this cliff to prevent the country from going bankrupt w
he's head of the parade and a a badly weakened economy is going to hurt him more than anything. the republicans need to figure out their hand is stronger than they think, and they need to remember they are the ones that control spending and under no circumstances should they ever give obama a blank check or give up their constitutional authority. now four, republicans, and in particular, john boehner, a party that gets trapped, you always suffer and they suffer in particular if they lose the...